Far more important is resolution 5.
"That Mr Yuan Ma be elected as a director of Beston".
Mr Ma is a representative of Kunteng Pty Ltd (Kunteng).
This Chinese company holds @ 10% of the issued capital of Beston and agreed in 2016 to order Beston products to China and Korea and to introduce Beston products to supermarkets within China, amongst other promises. Kunteng has completely failed to do any of this, setting Beston back about 2 years. Their real motivation then was I think just to get money out of China.
If resolutions 2 and 5 are passed, control of the company will pass to the Chinese, just as it is turning the corner. This would be a disastrous development for minority shareholders. All future lactoferrin profits will disappear, I guarantee.
You can vote in real time tomorrow - please think carefully.
Shareholder's only hope at AGM, page-3
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